p2pfan
Member of DD Central
Full-Time Investor
Posts: 742
Likes: 835
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Post by p2pfan on Apr 15, 2022 15:56:11 GMT
Total funds on platform passed £60m for the first time today, no doubt boosted by the new ISA season. You posted about the £50m mark just in January. LP is growing at a striking pace! Long may it continue. LP are one of my very favourite platforms (just increase the interest rate please!).
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Post by Ace on Jul 8, 2022 13:27:44 GMT
The largest loan on Loanpad (9519806) was increased today to £2,392,911, so now represents just over 5% of funds on the platform again. It's a relatively high LTV at nearly 50% but only a 12% LTGDV. The borrower has already repaid 3 other loans. I'm fairly relaxed about this given that it's the only loan that's anywhere near this big, but I'd much rather Loanpad avoided loans of this size until it has grown the platform considerably. Sticking to something like 2.5% of funds on platform per loan would be my preference. The number of loans (now 123), total funds on platform (now £47.46m) and number of investors (3371) all keep heading in the right direction. Still just 7 lending partners, and average LTV is 42%. Another loan (9876240) is now utilising the ICF to pay its interest. It's a small loan £162.5k, so only represents 0.34% of funds on the platform. It will be interesting to see if 4thWay's recent recommendation that Loanpad is a good place for ex-Zopa cash will boost the number of lenders. This largest loan (9519806) has been increased a few times since the above post. The latest increase being for an extra £500k yesterday. The LTV is just under 40% due to increases in the security value. Owing to a large increase in funds on platform, this loan still represents fractionally over 5% of those funds. 4 of the borrower's other 5 loans on the platform have now repaid (but I can't see an easy way to find out if they have taken out any new ones). I'm still relatively relaxed given Loanpad's record so far. The number of loans (now 153 live, plus 2 upcoming and 151 repaid), total funds on platform (now £67.44m) and number of investors (4042) are all still rising fast. The increase in funds on the platform seems relatively constant at very roughly £10m per quarter. The number of lending partners has been static (now 9) for some time, but with promises of more to come. Average LTV is currently 43%. The average exposure we all have per loan is currently 0.62% of our account balances (with a maximum of 5%, as mentioned above). There is currently just under £3.5m of unallocated cash (~5%) on the platform, to be able to service instant withdrawals or fund new loans. There are no loans currently drawing on the ICF. From casual observations (no statistical analysis) Loanpad seem to have raised their rates by very very roughly 0.25% to borrowers, so the two 0.1% rises to lenders looks to be affordable. I'm expecting both of those to rise again soon. Hopefully, the long awaited platform update will be released soon.
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Jul 8, 2022 15:41:22 GMT
Thank you Ace. The summary you have delivered here is helpful. Loanpad position as you have described it, appears a very healthy one, and like you, I also expect to see some further upward movements with interest rates offered. Thanks for taking the time to summarise some of the statistics so clearly.
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